Five Star Hotel Market was valued at US$ 116.71 Bn. in 2022. Global Five Star Hotel Market size is expected to grow at a CAGR of 6.1 % through the forecast period.Five Star Hotel Market Overview:
A hotel is a commercial establishment that provides a luxurious and high-class stay experience to tourists and guests. These typically include businesses, airports, hotels, and resorts. These accommodations offer lavish amenities, such as spas, pools, restaurants, beauty salons, private beaches, and fitness centers. They also offer fast, convenient, discreet check-in and check-out, smart booking and planning processes, laundry service, business center, babysitting, dog walking, and concierge services. Especially, these hotels often feature exclusive designer interiors made with modern technology. Luxury hotel rooms also feature high-quality aesthetic art on the walls, floors, roof, and windows, flat-screen televisions (TVs), handmade toiletries, and coffee makers to enhance the customer experience. Developments in the travel and tourism sector, increasing leisure travel preferences, and changing living standards are driving the growth of the international luxury hotel market. However, high prices are hindering the growth of the market. On the other hand, people's growing interest in experiencing new types of adventure and entertainment offers new opportunities in the coming years.To know about the Research Methodology :- Request Free Sample Report Five Star Hotel Market Covid- 19 Insight: The rapid spread of the coronavirus infection led to strict lockdown regulations in much of the world in early 2020. Physical distancing regulations and stay-at-home orders were already in place. Resulting in the closing of hotels, restaurants, and spas. Some conferences, events, social gatherings, and scheduled trips have had to be cancelled or postponed to prevent further transmission of the virus. These factors, in turn, have a negative impact on the hotel market. The annual hotel occupancy in the U.S decreased from 66% in 2019 to 44% in 2020 due to pandemics. However, the occupancy rate increased as the lockdown rules were eased.
Five Star Hotel Market Dynamics:
Five Stars Hotel Market Drivers: Increased tourism market: Hotel is one of the fastest-growing markets in the tourism sector and this is truly justified as accommodation is an important factor in the tourism development of any country or region. . Tourism and the hotels market go hand in hand and the presence of a sufficient number of hotels also adds value and many factors and impacts on the economy of the region. The mere existence of a hotel is not enough to promote tourism in an area, but it is also an indication of good tourism. Increased developments in hotels: With the increased availability of rooms in hotels the convenience of booking the rooms online in advance is one of the key facts that helped the hotel segment grow rapidly. Besides The increasing availability of stay packages with deluxe rooms and premium services has attracted a large number of extended-stay customers, thereby increasing revenue. Increasing the adoption of advanced technologies by offering various amenities such as free Wi-Fi or smart bathrooms in five-star hotel rooms is attracting more customers. Therefore, as the trend of luxury resorts and travel increased, the demand for lavish hotel locations. The increasing number of high-net-worth individuals: Luxury services are mainly used by wealthy consumers and hence the growing wealthy population around the world is likely to drive the growth of the market. The high-net-worth-individual population has increased by 11.6% in 2022 compared to 2019. Hence the increase in international high net wealth individuals will lead to an increase in the five-star hotel market. Five-star hotel markets Restraints: Availability of alternatives: The availability of hotels with similar services are made available in alternative low-tier hotels. The improved service and facilities in the lower-tier hotels are made available at a low cost. This is the major key factor for restraints in the market growth. Increased discounts on online booking and vouchers have made other low-tier hotels attractive and increased the occupancy rate. Five-star hotel Market Trends & Opportunities: Increasing Digitalization of services and online booking on apps and websites: Luxury hotels are taking bookings directly through their hotel brand websites. Apps are increasingly playing an important role in how hoteliers manage the services they provide to guests, and can now control many aspects of the guest cycle and experience. The trend toward digital and contactless services has gained new impetus in 2022. Traditionally, customer-facing services are being improved by the wider use of options offered are supported by technology, such as mobile registration, contactless payments, voice control, and biometrics. Consumers accustomed to unlocking smartphones and laptops with facial recognition and fingerprints will soon expect the same convenience when accessing their hotel rooms.Five Star Hotel Market Segment Analysis:
Based on Type, the Five Star Hotel Market is segmented into Business hotels, airport hotels, suite hotels, and Resorts. the business hotel segment holds the highest market share in 2022, accounting for 33% of the international luxury hotel market, and is expected to maintain its lead throughout the forecast period. Moreover, the business hotel segment is expected to experience a peak CAGR of 6% from 2022 to 2029. This is due to, the major part of the international luxury hotel market by type is covered by business hotels, followed by airport hotels.Based on the Category, the Five Star Hotel Market is segmented into Chain hotels and independent hotels. The chain segment holds the largest market share in 2022, contributing more than half of the international Five-star hotel market, and is expected to maintain its leadership position over the forecast period. This is due to the availability of spacious rooms, high market penetration, and cost-effective service in the Asia-Pacific region. However, the independent segment is expected to have the largest CAGR of 6.5% from 2023 to 2029.
Five Star Hotel Market Regional Insights:
The North American region dominated the market with a 33 % share in 2022. The number of leisure travellers including domestic travellers are more in North America and spend around 700 billion USD every year which is far more compared to other regions The Asia Pacific region is expected to witness significant growth at a CAGR of 6% through the forecast period owing to rapid developments taking place in these regions. The objective of the report is to present a comprehensive analysis of the international Five Star Hotel Market to the stakeholders in the industry. The past and current status of the industry with the forecast market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Five Star Hotel Market dynamic, and structure by analyzing the market segments and projecting the Five Star Hotel Market size. Clear representation of competitive analysis of key players by Hotel type, price, financial position, product portfolio, growth strategies, and regional presence in the Five Star Hotel Market make the report investor’s guide.Five Star Hotel Market Scope: Inquiry Before Buying
Five Star Hotel Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2017 to 2022 Market Size in 2022: US$ 116.71 Bn. Forecast Period 2023 to 2029 CAGR: 6.1% Market Size in 2029: US$ 176.65 Bn. Segments Covered: by Type Business Hotels Airport Hotels Suite Hotels Resorts by Category Chain Individual Five Star Hotel Market, by Region
North America (United States, Canada, and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, and the Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan, and the Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria, and the Rest of ME&A) South America (Brazil, Argentina Rest of South America)Five Star Hotel Market, Key Players are
1. Accor SA 2. Belmond Ltd 3.Four seasons of hotel 4. Hyatt Hotels Corporation 5. InterContinental Hotel Group 6. ITC limited 7. Jumeirah International LLC 8. Mandarin Oriental Hotels 9. Marriott International Inc 10. Rosewood Hotels & Resorts LLC 11. Shangri-La Int. Hotel Ltd 12. Kempinski Hotels SA 13. Hilton Hotels & Resorts 14. The Indian Hotels Company Ltd Frequently Asked Questions: 1] What segments are covered in the Global Five Star Hotel Market report? Ans. The segments covered in the Five Star Hotel Market report are based on Type and Category. 2] Which region is expected to hold the highest share in the Global Five Star Hotel Market? Ans. The North American region is expected to hold the highest share in the Five Star Hotel Market. 3] What is the market size of the Global Five Star Hotel Market by 2029? Ans. The market size of the Five Star Hotel Market by 2029 is expected to reach US$ 176.65 Bn. 4] What is the forecast period for the Global Five Star Hotel Market? Ans. The forecast period for the Five Star Hotel Market is 2023-2029. 5] What was the market size of the Global Five Star Hotel Market in 2022? Ans. The market size of the Five Star Hotel Market in 2022 was valued at US$ 116.71 Bn.
1. Five Star Hotel Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. Five Star Hotel Market: Dynamics 2.1. Five Star Hotel Market Trends by Region 2.1.1. North America Five Star Hotel Market Trends 2.1.2. Europe Five Star Hotel Market Trends 2.1.3. Asia Pacific Five Star Hotel Market Trends 2.1.4. Middle East and Africa Five Star Hotel Market Trends 2.1.5. South America Five Star Hotel Market Trends 2.2. Five Star Hotel Market Dynamics by Region 2.2.1. North America 2.2.1.1. North America Five Star Hotel Market Drivers 2.2.1.2. North America Five Star Hotel Market Restraints 2.2.1.3. North America Five Star Hotel Market Opportunities 2.2.1.4. North America Five Star Hotel Market Challenges 2.2.2. Europe 2.2.2.1. Europe Five Star Hotel Market Drivers 2.2.2.2. Europe Five Star Hotel Market Restraints 2.2.2.3. Europe Five Star Hotel Market Opportunities 2.2.2.4. Europe Five Star Hotel Market Challenges 2.2.3. Asia Pacific 2.2.3.1. Asia Pacific Five Star Hotel Market Drivers 2.2.3.2. Asia Pacific Five Star Hotel Market Restraints 2.2.3.3. Asia Pacific Five Star Hotel Market Opportunities 2.2.3.4. Asia Pacific Five Star Hotel Market Challenges 2.2.4. Middle East and Africa 2.2.4.1. Middle East and Africa Five Star Hotel Market Drivers 2.2.4.2. Middle East and Africa Five Star Hotel Market Restraints 2.2.4.3. Middle East and Africa Five Star Hotel Market Opportunities 2.2.4.4. Middle East and Africa Five Star Hotel Market Challenges 2.2.5. South America 2.2.5.1. South America Five Star Hotel Market Drivers 2.2.5.2. South America Five Star Hotel Market Restraints 2.2.5.3. South America Five Star Hotel Market Opportunities 2.2.5.4. South America Five Star Hotel Market Challenges 2.3. PORTER’s Five Forces Analysis 2.4. PESTLE Analysis 2.5. Technology Roadmap 2.6. Regulatory Landscape by Region 2.6.1. North America 2.6.2. Europe 2.6.3. Asia Pacific 2.6.4. Middle East and Africa 2.6.5. South America 2.7. Key Opinion Leader Analysis For Five Star Hotel Industry 2.8. Analysis of Government Schemes and Initiatives For Five Star Hotel Industry 2.9. Five Star Hotel Market price trend Analysis (2021-22) 2.10. Five Star Hotel Market Trade Analysis 2.10.1. Global Import Analysis 2.10.1.1. Top Importer of Five Star Hotel 2.10.2. Global Export Analysis 2.10.2.1. Top Exporter of Five Star Hotel 2.11. Five Star Hotel Production Analysis 2.12. The Global Pandemic Impact on Five Star Hotel Market 3. Five Star Hotel Market: Global Market Size and Forecast by Segmentation by Demand and Supply Side (by Value and Volume) 2022-2029 3.1. Five Star Hotel Market Size and Forecast, by Type (2022-2029) 3.1.1. Business Hotels 3.1.2. Airport Hotels 3.1.3. Suite Hotels 3.1.4. Resorts 3.2. Five Star Hotel Market Size and Forecast, by Category (2022-2029) 3.2.1. Chain 3.2.2. Individual 3.3. Five Star Hotel Market Size and Forecast, by Region (2022-2029) 3.3.1. North America 3.3.2. Europe 3.3.3. Asia Pacific 3.3.4. Middle East and Africa 3.3.5. South America 4. North America Five Star Hotel Market Size and Forecast by Segmentation (by Value and Volume) 2022-2029 4.1. North America Five Star Hotel Market Size and Forecast, by Type (2022-2029) 4.1.1. Business Hotels 4.1.2. Airport Hotels 4.1.3. Suite Hotels 4.1.4. Resorts 4.2. North America Five Star Hotel Market Size and Forecast, by Category (2022-2029) 4.2.1. Chain 4.2.2. Individual 4.3. North America Five Star Hotel Market Size and Forecast, by Country (2022-2029) 4.3.1. United States 4.3.1.1. United States Five Star Hotel Market Size and Forecast, by Type (2022-2029) 4.3.1.1.1. Business Hotels 4.3.1.1.2. Airport Hotels 4.3.1.1.3. Suite Hotels 4.3.1.1.4. Resorts 4.3.1.2. United States Five Star Hotel Market Size and Forecast, by Category (2022-2029) 4.3.1.2.1. Chain 4.3.1.2.2. Individual 4.3.2. Canada 4.3.2.1. Canada Five Star Hotel Market Size and Forecast, by Type (2022-2029) 4.3.2.1.1. Business Hotels 4.3.2.1.2. Airport Hotels 4.3.2.1.3. Suite Hotels 4.3.2.1.4. Resorts 4.3.2.2. Canada Five Star Hotel Market Size and Forecast, by Category (2022-2029) 4.3.2.2.1. Chain 4.3.2.2.2. Individual 4.3.3. Mexico 4.3.3.1. Mexico Five Star Hotel Market Size and Forecast, by Type (2022-2029) 4.3.3.1.1. Business Hotels 4.3.3.1.2. Airport Hotels 4.3.3.1.3. Suite Hotels 4.3.3.1.4. Resorts 4.3.3.2. Mexico Five Star Hotel Market Size and Forecast, by Category (2022-2029) 4.3.3.2.1. Chain 4.3.3.2.2. Individual 5. Europe Five Star Hotel Market Size and Forecast by Segmentation (by Value and Volume) 2022-2029 5.1. Europe Five Star Hotel Market Size and Forecast, by Type (2022-2029) 5.2. Europe Five Star Hotel Market Size and Forecast, by Category (2022-2029) 5.3. Europe Five Star Hotel Market Size and Forecast, by Country (2022-2029) 5.3.1. United Kingdom 5.3.1.1. United Kingdom Five Star Hotel Market Size and Forecast, by Type (2022-2029) 5.3.1.2. United Kingdom Five Star Hotel Market Size and Forecast, by Category (2022-2029) 5.3.2. France 5.3.2.1. France Five Star Hotel Market Size and Forecast, by Type (2022-2029) 5.3.2.2. France Five Star Hotel Market Size and Forecast, by Category (2022-2029) 5.3.3. Germany 5.3.3.1. Germany Five Star Hotel Market Size and Forecast, by Type (2022-2029) 5.3.3.2. Germany Five Star Hotel Market Size and Forecast, by Category (2022-2029) 5.3.4. Italy 5.3.4.1. Italy Five Star Hotel Market Size and Forecast, by Type (2022-2029) 5.3.4.2. Italy Five Star Hotel Market Size and Forecast, by Category (2022-2029) 5.3.5. Spain 5.3.5.1. Spain Five Star Hotel Market Size and Forecast, by Type (2022-2029) 5.3.5.2. Spain Five Star Hotel Market Size and Forecast, by Category (2022-2029) 5.3.6. Sweden 5.3.6.1. Sweden Five Star Hotel Market Size and Forecast, by Type (2022-2029) 5.3.6.2. Sweden Five Star Hotel Market Size and Forecast, by Category (2022-2029) 5.3.7. Austria 5.3.7.1. Austria Five Star Hotel Market Size and Forecast, by Type (2022-2029) 5.3.7.2. Austria Five Star Hotel Market Size and Forecast, by Category (2022-2029) 5.3.8. Rest of Europe 5.3.8.1. Rest of Europe Five Star Hotel Market Size and Forecast, by Type (2022-2029) 5.3.8.2. Rest of Europe Five Star Hotel Market Size and Forecast, by Category (2022-2029) 6. Asia Pacific Five Star Hotel Market Size and Forecast by Segmentation (by Value and Volume) 2022-2029 6.1. Asia Pacific Five Star Hotel Market Size and Forecast, by Type (2022-2029) 6.2. Asia Pacific Five Star Hotel Market Size and Forecast, by Category (2022-2029) 6.3. Asia Pacific Five Star Hotel Market Size and Forecast, by Country (2022-2029) 6.3.1. China 6.3.1.1. China Five Star Hotel Market Size and Forecast, by Type (2022-2029) 6.3.1.2. China Five Star Hotel Market Size and Forecast, by Category (2022-2029) 6.3.2. S Korea 6.3.2.1. S Korea Five Star Hotel Market Size and Forecast, by Type (2022-2029) 6.3.2.2. S Korea Five Star Hotel Market Size and Forecast, by Category (2022-2029) 6.3.3. Japan 6.3.3.1. Japan Five Star Hotel Market Size and Forecast, by Type (2022-2029) 6.3.3.2. Japan Five Star Hotel Market Size and Forecast, by Category (2022-2029) 6.3.4. India 6.3.4.1. India Five Star Hotel Market Size and Forecast, by Type (2022-2029) 6.3.4.2. India Five Star Hotel Market Size and Forecast, by Category (2022-2029) 6.3.5. Australia 6.3.5.1. Australia Five Star Hotel Market Size and Forecast, by Type (2022-2029) 6.3.5.2. Australia Five Star Hotel Market Size and Forecast, by Category (2022-2029) 6.3.6. Indonesia 6.3.6.1. Indonesia Five Star Hotel Market Size and Forecast, by Type (2022-2029) 6.3.6.2. Indonesia Five Star Hotel Market Size and Forecast, by Category (2022-2029) 6.3.7. Malaysia 6.3.7.1. Malaysia Five Star Hotel Market Size and Forecast, by Type (2022-2029) 6.3.7.2. Malaysia Five Star Hotel Market Size and Forecast, by Category (2022-2029) 6.3.8. Vietnam 6.3.8.1. Vietnam Five Star Hotel Market Size and Forecast, by Type (2022-2029) 6.3.8.2. Vietnam Five Star Hotel Market Size and Forecast, by Category (2022-2029) 6.3.9. Taiwan 6.3.9.1. Taiwan Five Star Hotel Market Size and Forecast, by Type (2022-2029) 6.3.9.2. Taiwan Five Star Hotel Market Size and Forecast, by Category (2022-2029) 6.3.10. Rest of Asia Pacific 6.3.10.1. Rest of Asia Pacific Five Star Hotel Market Size and Forecast, by Type (2022-2029) 6.3.10.2. Rest of Asia Pacific Five Star Hotel Market Size and Forecast, by Category (2022-2029) 7. Middle East and Africa Five Star Hotel Market Size and Forecast by Segmentation (by Value and Volume) 2022-2029 7.1. Middle East and Africa Five Star Hotel Market Size and Forecast, by Type (2022-2029) 7.2. Middle East and Africa Five Star Hotel Market Size and Forecast, by Category (2022-2029) 7.3. Middle East and Africa Five Star Hotel Market Size and Forecast, by Country (2022-2029) 7.3.1. South Africa 7.3.1.1. South Africa Five Star Hotel Market Size and Forecast, by Type (2022-2029) 7.3.1.2. South Africa Five Star Hotel Market Size and Forecast, by Category (2022-2029) 7.3.2. GCC 7.3.2.1. GCC Five Star Hotel Market Size and Forecast, by Type (2022-2029) 7.3.2.2. GCC Five Star Hotel Market Size and Forecast, by Category (2022-2029) 7.3.3. Nigeria 7.3.3.1. Nigeria Five Star Hotel Market Size and Forecast, by Type (2022-2029) 7.3.3.2. Nigeria Five Star Hotel Market Size and Forecast, by Category (2022-2029) 7.3.4. Rest of ME&A 7.3.4.1. Rest of ME&A Five Star Hotel Market Size and Forecast, by Type (2022-2029) 7.3.4.2. Rest of ME&A Five Star Hotel Market Size and Forecast, by Category (2022-2029) 8. South America Five Star Hotel Market Size and Forecast by Segmentation (by Value and Volume) 2022-2029 8.1. South America Five Star Hotel Market Size and Forecast, by Type (2022-2029) 8.2. South America Five Star Hotel Market Size and Forecast, by Category (2022-2029) 8.3. South America Five Star Hotel Market Size and Forecast, by Country (2022-2029) 8.3.1. Brazil 8.3.1.1. Brazil Five Star Hotel Market Size and Forecast, by Type (2022-2029) 8.3.1.2. Brazil Five Star Hotel Market Size and Forecast, by Category (2022-2029) 8.3.2. Argentina 8.3.2.1. Argentina Five Star Hotel Market Size and Forecast, by Type (2022-2029) 8.3.2.2. Argentina Five Star Hotel Market Size and Forecast, by Category (2022-2029) 8.3.3. Rest Of South America 8.3.3.1. Rest Of South America Five Star Hotel Market Size and Forecast, by Type (2022-2029) 8.3.3.2. Rest Of South America Five Star Hotel Market Size and Forecast, by Category (2022-2029) 9. Global Five Star Hotel Market: Competitive Landscape 9.1. MMR Competition Matrix 9.2. Competitive Landscape 9.3. Key Players Benchmarking 9.3.1. Company Name 9.3.2. Business Segment 9.3.3. End-user Segment 9.3.4. Revenue (2022) 9.3.5. Production of 2022 9.3.6. Company Locations 9.4. Leading Five Star Hotel Market Companies, by market capitalization 9.5. Analysis of Organized and Unorganized Key Players in Five Star Hotel Industry 9.6. Market Structure 9.6.1. Market Leaders 9.6.2. Market Followers 9.6.3. Emerging Players 9.7. Mergers and Acquisitions Details 10. Company Profile: Key Players 10.1. Accor SA 10.1.1. Company Overview 10.1.2. Business Portfolio 10.1.3. Financial Overview 10.1.4. SWOT Analysis 10.1.5. Strategic Analysis 10.1.6. Scale of Operation (small, medium, and large) 10.1.7. Details on Partnership 10.1.8. Regulatory Accreditations and Certifications Received by Them 10.1.9. Awards Received by the Firm 10.1.10. Recent Developments 10.2. Belmond Ltd 10.3. Four seasons of hotel 10.4. Hyatt Hotels Corporation 10.5. InterContinental Hotel Group 10.6. ITC limited 10.7. Jumeirah International LLC 10.8. Mandarin Oriental Hotels 10.9. Marriott International Inc 10.10. Rosewood Hotels & Resorts LLC 10.11. Shangri-La Int. Hotel Ltd 10.12. Kempinski Hotels SA 10.13. Hilton Hotels & Resorts 10.14. The Indian Hotels Company Ltd 11. Key Findings 12. Industry Recommendations 13. Five Star Hotel Market: Research Methodology 14. Terms and Glossary